Acquisition 101
There are several reasons you may be considering a business acquisition; you prefer to acquire an existing business as opposed to starting your own, you wish to increase your market share, you’d like to tap an unassociated market, or even if you’d like to expand your business offerings. Regardless of your reasoning, the initial scope is the same; due diligence, due diligence, due diligence.
Creating Consistency
The goal of any business in any sector is to be able to automate as many processes as possible in order to minimize overhead expenses. Prior to automation, your business must be able to provide consistency across all processes. And, in order to provide consistency, you must first establish your business standards. It all starts with developing and documenting your Standard Operating Procedures, or SOPs.